Flex Work/Storage
428 SE Chama Street Albuquerque, NM 87108
For Sale
$345,000
3,000-sq-ft flex building with attached garage, high ceilings, half bath, and an open interior, sold as-is.
Property Size3,000 SF
Price / SF$115
Days on Market164
Property Features for 428 SE Chama Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Mixed Use
Building Details
Year Built
1954
Listing Agency:
Realty One of New Mexico
(575) 808-2830
Listed By:
Hayley McInnes · License #REC20260065
(575) 808-2830
Source:
Xome
Added: Feb 16
Changed: Jul 21
Last Checked: Jul 30 at 3:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One of New Mexico
Investment Insights
Based on property information with market context.
This 3,000-sq-ft flex building includes an attached garage and a large open interior with high ceilings. The layout features an open floorplan and a half bath. The property is offered for sale as-is and is positioned as a handyman special, with space that can support work and storage needs.
Set in the Southeast Heights area, the surrounding neighborhood includes locally owned businesses, restaurants, and shopping locations. The attached garage and open work/storage configuration make the building straightforward for a tenant or owner to tailor to their specific use.
The offering combines flexible interior space with garage utility under a single structure, with on-site half-bath convenience and an as-is condition sale.
Set in the Southeast Heights area, the surrounding neighborhood includes locally owned businesses, restaurants, and shopping locations. The attached garage and open work/storage configuration make the building straightforward for a tenant or owner to tailor to their specific use.
The offering combines flexible interior space with garage utility under a single structure, with on-site half-bath convenience and an as-is condition sale.
Key Highlights
- 3,000‑sq‑ft flex building with attached garage
- Open interior layout with high ceilings
- Half bath included
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $14.40 |
| − Vacancy | −$2.2k | −$0.72 |
| EGI | $41.0k | $13.68 |
| − OpEx | −$14.4k | −$4.79 |
| NOI | $26.7k | $8.89 |
3,000 SF · lease $14.40/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$381.1K
$333.5K – $444.6K
NOI $26,676 @ 7.0% cap · market cap 7.73%
Second Best
Warehouse
$293.8K
$257.0K – $342.7K
NOI $20,563 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - 3,000-sq-ft flex building with attached garage, high ceilings, half bath, and an open interior, sold as-is.
Where is this flex space located?
The property is located at 428 SE Chama Street Albuquerque, NM.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 3,000‑sq‑ft flex building with attached garage; Open interior layout with high ceilings; Half bath included
